Fire Pension Board

Fire Pension Board - Apr 23 2026 Agenda Quarterly, as needed at 2:00 PM Public Safety Facility, 285 N. Seven Hills Road Page 1. Opening 1.1 ROLL CALL 1.2 Public Comments 1.3 Approval of Minutes - January 22, 2026 3 260122FPAgenda.pdf 2. Correspondence 3. Bills 3.1 Warrant 26-08 Invoice for Attorney services rendered 3.2 Warrants 26-09, 26-10, 26-11 Benefit payments - G. Saunders 3.3 Warrants 26-12, 26-13, 26-14 Benefits payments - T. Saunders (Alt payee) 4. Treasurer's Report 4.1 Cash Balance $78,915 - Bank of O'Fallon acct 5. Investment Report 5.1 IFPIF Investment Update Feb 2026 statement 6. Old Business 6.1 Reappointement of K. Adkins Page 1 of 4  Current term expires 5/12/26 6.2 Statement of Economic Interest Confirmation of filing status 6.3 IL Finance Entity form Confirm filing status 6.4 City contributions deposits Direct deposit into FPIF acct vs local bank acct 7. New Business 7.1 Annual Trustee training requirement Reminder to complete training 8. Application for Membership 9. Application for Benefits 10. Adjournment 10.1 Next meeting 23 Jul 2026 @ 2pm Website: www.ofallon.org Page 2 of 4  DRAFT MEETING MINUTES O’FALLON FIRE PENSION BOARD Jan 22, 2026 O’FALLON POLICE DEPARTMENT 285 N. SEVEN HILLS ROAD, O’FALLON, IL 62269 Call to Order: 2:06pm Roll Call: Dave Hopkins Present Kip Adkins Present Brad White Present Brent Saunders Not Present Doug Barron Present Others Present: Dennis Orsey Public Comment: None Approval of Minutes: - Motion by Barron, seconded by White to approve the 23 Oct 2025 meeting minutes. Vote held (4 Aye, 0 Nay); motion carried. Correspondence: None. Bills: - Warrant 26-01; Services rendered by Attorney Orsey - $508.75. Motion made by Barron, seconded by Adkins to pay the warrant. Roll Call Vote (Aye 4, Nay 0); motion carried. - Warrant 26-02; Feb 2026 pension benefit payment for Brent Saunders - $668.34 - Warrant 26-03; Mar 2026 pension benefit payment for Brent Saunders - $668.34 - Warrant 26-04; Apr 2026 pension benefit payment for Brent Saunders - $668.34 - Warrant 26-05; Feb 2026 alternate payee benefit payment for Tracey Saunders - $668.35 - Warrant 26-06; Mar 2026 alternate payee benefit payment for Tracey Saunders - $668.35 - Warrant 26-07; Apr 2026 alternate payee benefit payment for Tracey Saunders - $668.35 Motion made by Barron, seconded by Adkins to pay the benefit payments based on the requirements identified in the QILDRO. Roll Call Vote (Aye 4, Nay 0); motion carried. Treasurer Report: - The Board reviewed the local cash balance. As of 16 Jan 2026, the Bank of O’Fallon cash balance was $77,382.69. Motion made by White, seconded by Adkins to accept the Treasurer Report. Roll Call Vote held (Aye 3, Nay 0); motion carried. - The Board discussed maintaining a balance of $20,000 in the Bank of O’Fallon account and allowing the City of O’Fallon Finance Department to routinely transfer cash in excess of this amount to the Illinois Firefighters Pension Fund account to increase overall investment potential. Roll Call Vote (Aye 4, Nay 0); motion carried. Investment Report: - The Board reviewed the Nov 2025 Statement of Results provided by the FPIF. 2025 YTD, the fund’s Net Asset Value was $1,565,319.41. The 2025 YTD Return on Total Assets is 16.94%. Page 3 of 4 Old Business: - The Board reviewed and compared the Actuarial Valuation Report to the City tax levy to ensure the pension fund was properly funded. The Actuarial Valuation report identified a statutory minimum required contribution of $52,735. The City tax levy for the fire pension is set for $30,000. The Board noted the discrepancy; however, the Actuarial Valuation report identified the pension being funded at 250.4%. No Board action required. New Business: - Board discussed Adkins’ appointment to the Board is set to expire in May. White will contact the City Clerk to request the Mayor reappoint Adkins to the Board for three years. New term to expire 8 May 2029. Motion made by Hopkins, seconded by White to approve having the Mayor reappointment Adkins. Roll Call Vote held (Aye 4, Nay 0); motion carried. - Board discussed completing Economic Interest Statements before the May deadline. Application for Membership: None Application for Benefits: None. Next Meeting Date: Tuesday, 23 Apr 2026 @ 2:00PM, O’Fallon Public Safety Building Adjournment: Motion made by Adkins, seconded by White to adjourn. Vote held (Aye 3, Nay 0); motion carried. Meeting adjourned at 2:55pm. Signed: Brad White Secretary Page 4 of 4